7 Things To Know About Voluntary Retirement Scheme

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Early Retirement

A voluntary retirement scheme (VRS) is an option companies provide to employees to take an early retirement.

Mutual Benefits

It helps employers to reduce their workforce while the employees can avail of retirement benefits. 

Mutual Benefit


The VRS option is available to employees of both public and private-sector enterprises.



Employees typically choose this option for new opportunities like career advancement or a career change.

New Opportunities


The compensation is equivalent to three months' wage for each completed year of service based on the employee's last drawn salary. 

Retirement Compensation

Benefits For Companies

Corporations can replace their ageing workforce with new talents without a large-scale employee retrenchment.

Picking Best Options

Age Criteria For VRS

Employees aged 40 or older who have worked for 10 or more years in the organisation can apply for early retirement.

Eligibility age

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